The Ontario iGaming Market: 2024 Legal Regulations

To the delight of many Ontarians, the iGaming market has started to progress and open up in the last couple of years, and it doesn’t seem like this will change in 2024. In terms of regulations, there are a few things shaping the gambling landscape in Ontario since the practice was legalized in 2022. These rules ensure that any iGaming operators are functioning legally and that customers’ details are secure. 

As a result of iGaming becoming fully legal in Ontario, there was a huge growth in the number of new market entrants, each hoping to make their mark by offering the best and most reputable online casinos or sportsbooks. Gambling is a very popular pastime in Ontario, both online and in-person. Previous figures have indicated that residents spend approximately US$1 billion per year on online gambling, and that revenue for the market will reach a staggering US$1.5 billion by 2026. If these figures are correct, Ontario could become host to one of the most successful and largest iGaming markets in North America.

One of the most significant legal regulations in play for 2024 is the legalization of single game betting. To place a single game bet is simply to place a single wager on the outcome of a game, most typically a sports event. Permitting this kind of gambling requires regulatory bodies, to ensure that rules are being upheld. The main group of this kind in Ontario is the Alcohol and Gaming Commission of Ontario (AGCO), which oversees the entire iGaming market. The AGCO was set up in February 1998, and is integral to protecting all involved parties from money laundering, as well as encouraging security measures and enforcing safeguarding. This commissioning body must work in line with standards set by the Financial Transactions and Reports Analysis Centre and the Proceeds of Crime and Terrorist Financing Act.

Also crucial to regulating the Ontarian online gambling market is iGaming Ontario, which is an organization that works alongside the government and the Alcohol and Gaming Commission to protect consumers and private operators. iGaming Ontario allows game providers to work as private contractors, and gives an abundance of information about how to enter the market. There is also a lot of support for players, such as comprehensive lists of regulated and licensed game operators, and information on how to gamble responsibly.

For any iGaming providers in Ontario to set up shop, they must first pass KYC (Know Your Customer) requirements, which are some of the most thorough out there. The regulation involves operators passing a strict verification process, including photos and government documents to prove legality and identification. In comparison to other online gambling markets, this is much more heavily regulated, meaning that players can rest assured that they are gambling with reputable companies. Gamers are also subject to regulations, such as minimum age limits. Anyone accessing the iGaming market must be 19 years of age or above, and must be located physically within Ontario’s land borders.